Raymond opened the UK’s first strip club, The Raymond Revue Bar, in 1958 in London’s Soho.

It proved wildly successful and made him wealthy enough to buy up large chunks of property in the area, earning him the nickname “King of Soho.”

At the same time, he set up Paul Raymond Publications, launching men’s magazines Men Only, Escort, Club International and Mayfair.

He was about to hand over the reins of the business to his daughter Debbie when she died of an accidental heroin overdose in 1992.

Although Raymond had four grandchildren, he only recognized two — Debbie’s daughters Fawn and India Rose — in his will, leaving them $126 million when he died in 2008. They were just 22 and 17 at the time.

Raymond’s son Howard and his daughters Cheyenne, 24, and Boston, 22, received nothing.

While Fawn is known for being prim and proper, 23-year-old India Rose is much more of a wild child.Photo: Instagram

In 2013, the combined wealth of Fawn and India Rose more than doubled thanks to a massive rise in property values.

And while Fawn, a university graduate, is making something constructive of her life, with plans to revive her grandfather’s Soho club and convert it into a theater as well as giving generously to charity, her younger sister has been criticized for squandering her riches.

She boasts of partying in LA, Rome, Dubai and Paris, photographs money burning and competes with her sister to buy their father the more expensive birthday present: “So I have 7 days to get my dad a better present than what my sister got him — she got him a Bentley,” she posted on Twitter.